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Effectus [21]
3 years ago
5

Which economic term is used to describe someting tangible (you can hold it and

Business
1 answer:
uysha [10]3 years ago
3 0

Answer:

C.good

Explanation:

A business can offer either goods or services. Goods are tangible products that can be touched, seen, smelled, eaten, etc., depending on the product, e.g. Coke, chocolate, cars, etc. Services are intangible, meaning that they cannot be seen or touched, they are experienced, e.g. going ot the movies, staying at a hotel, etc.

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Lancelot Manufacturing is a small textile manufacturer using machineminushours as the single indirectminuscost rate to allocate
Fynjy0 [20]

Answer:

Overhead absorption rate = Budgeted overhead

                                              Budgeted machine hours

                                            = $36,000/90,000 hrs

                                           = $0.4 per machine hour

The amount of manufacturing overhead to be allocated to the job

= $0.4 x 900 machine hours

= $360

Explanation:

There is need to calculate the overhead absorption rate which is budgeted manufacturing overhead divided by budgeted activity level.

Then, we will multiply the overhead absorption rate by the actual machine hours of 900 hours.

8 0
3 years ago
The stockholders' equity section of lester company's balance sheet follows:
avanturin [10]
Everything  the includes law .........
5 0
3 years ago
Montana Mining Co. pays $3,721,000 for an ore deposit containing 1,525,000 tons. The company installs machinery in the mine cost
Paraphin [41]

Answer:

Ore deposit depletion and Mining machinery depreciation Journal entries

Dr Depletion charge (Ore deposits) 405,528

Cr Accumulated depreciation 405,528

Dr Depletion charge (Ore deposits) 23,268

Cr Accumulated depreciation 23,268

Explanation:

Preparation of the year-end entries to record both the ore deposit depletion and the mining machinery depreciation of Montana Mining Co

Depletion of natural resources can be defined as the way in which the cost of natural resources is apportioned upto the period when it will be utilized which is why they are shown at cost in balance sheet.

The entry is to record depreciation charged on ore deposit depletion. Therefore To record this entry we have to debit depletion charges, and credit accumulated depreciation

Dr Depletion charge (Ore deposits) 405,528

Cr Accumulated depreciation 405,528

Computation of depletion cost per unit:

The depletion cost per unit can be calculated by dividing the net cost of the ore with the total units of capacity :

Depletion/units = Cost - Salvage/ Total unit of capacity

$3,721,000/1,525,000 tons

=$2.44

Hence, depletion per unit is $2.44.

Computation depletion amount on ore deposit:

The depletion amount on ore deposit can be calculated by multiplying the cost per depletion unit with the number of units utilized:

Depletion =Cost/Unit ×Units Utilized

$2.44×166,200 tones

=$405,528

Hence, depletion expenses on ore deposit amounts to $405,528.

The pass entry to record depreciation charged on mining machine :

Dr Depletion charge (Ore deposits) 23,268

Cr Accumulated depreciation 23,268

Computation of depreciation cost per unit:

The depletion cost per unit can be calculated by dividing the net cost of the ore with the total units of capacity :

Depletion/units = Cost - Salvage/ Total unit of capacity

$213,500/1,525,000 tons

=$0.14

Hence, depreciation per unit is $0.14.

Computation of depreciation amount on ore deposit:

The depletion amount on ore deposit can be calculated by multiplying the cost per depletion unit with the number of units utilized:

Depletion =Cost/Unit ×Units Utilized

$0.14×166,200 tones

=$23,268

Therefore the depreciation expenses on ore deposit amounts to $23,268

4 0
3 years ago
When labor unions successfully bargain for wage rates that are _____ the equilibrium wage rate, they may cause _____. higher tha
Delicious77 [7]

Answer:

When labor unions successfully bargain for wage rates that are HIGHER THAN the equilibrium wage rate, they may cause AN INCREASE IN STRUCTURAL UNEMPLOYMENT.

Explanation:

When a labor union bargains for wages that are above equilibrium rate, this will produce the same effect as a price floor. The supply of labor will increase, while the demand for labor will decrease. This deadweight loss generated by high wages will result in an excess supply that will eventually lead to higher structural unemployment.

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3 years ago
How do you start a business in America?
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Answer:

How To Launch Any Business Online For Under $100! YES you can! Starting an online business doesn’t need to be complicated. Start Any Online Business.

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3 years ago
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